Posted on 09/15/2009 6:13:38 PM PDT by Kaslin
Broad-based gains in consumer confidence continued in September, with the IBD/TIPP Economic Optimism Index reaching a 30-month high. But the improvement is not rubbing off on the grades President Obama gets on handling the economy.
The Economic Optimism Index rose 2.2 points, or 4.4%, this month, registering 52.5 vs. 50.3 in August. Index scores above 50 indicate optimism, below 50 indicate pessimism.
This month's reading puts the index 5 points above its 12-month average of 47.5 and 8.1 points above its reading of 44.4 in December 2007, when the recession began. It's now 1.3 points above its all-time average of 51.2.
IBD/TIPP conducted the latest poll of 924 Americans last week between Sept. 8 and 13.
Consumer spending accounts for 70% of the economy. If healthy confidence can be sustained, it could help boost consumer spending.
The IBD/TIPP Economic Optimism Index has three key components, all of which rose in September.
• The Six-Month Economic Outlook, a measure of how consumers feel about the prospects in the next six months, increased 1.2 points, or 2.3%, to reach 53.7. When compared with December 2007, the index shows a gain of 21.6 points.
(Excerpt) Read more at ibdeditorials.com ...
That’s because consumers are stupidly believing the hype about having turned the corner.
There are still a few credit bubbles waiting to burst, and they’re in the trillions of dollars in value.
Just wait till November when everyone realizes how deep in trouble economically we really are....
hahaha back to school shopping...
Just wait till November when everyone realizes how deep in trouble economically we really are....
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We are all going to learn what an old fashioned Christmas is like, as in very few presents and a lot less waste, let us hope it translates into a deeper appreciation for what we have left. This Christmas will be a real letdown for business, I expect a lot of closings to be announced in January.
Horsesh!t.
LLS
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